Published on 11/5/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $562,000 autocallable contingent coupon notes on four indexes
By Kiku Steinfeld
Chicago, Nov. 7 – GS Finance Corp. priced $562,000 of autocallable contingent coupon index-linked notes due March 14, 2030 tied to the S&P 500 index, the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par if each index closes at or above its initial index level on any quarterly call observation date after one year.
If the notes are not called and each index closes at or above 65% of initial value, the payout at par plus the coupon. Otherwise, investors will be fully exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100 and Dow Jones industrial average
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| Amount: | $562,000
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| Maturity: | March 14, 2030
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| Coupon: | 5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger buffer level, par; otherwise, full exposure to loss of least performing index
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| Call: | At par if each index closes at or above its initial level on any quarterly call observation date after one year
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| Initial index levels: | 1,951.329 for Russell, 4,201.09 for S&P, 32,817.38 for Dow, 13,319.38 for Nasdaq
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| Trigger buffer levels: | 65% of initial levels
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057LBF7
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